Crypto Titan’s Move to Puerto Rico Spurs Wyden Tax Evasion Probe

The founder of $5 billion cryptocurrency hedge fund Pantera Capital is in the crosshairs of US Senate investigators, who allege he may have evaded more than $100 million in capital gains taxes after seeking tax refuge in Puerto Rico.

Sen. Ron Wyden (D-Ore.), ranking member of the Senate Finance Committee, accused Pantera Managing Partner Dan Morehead of refusing to cooperate with his staff’s investigation of tax avoidance by wealthy Americans relocating to Puerto Rico. Wyden questioned whether Morehead had properly characterized his US tax obligations on his share of Pantera gains from the sale of ...